Korean Job Discussion Forums

[World Traveler]

[fiveeagles]

Wow...that looks horrible.

[Ranman]

Anybody know as to what effects this will have on the exchange rate?

[young_clinton]

You could destroy the North Korean government by just dropping packages of US currency. You would have a mass of people running to the border with China.

[Dodge7]

I love reading stuff like this concerning the BIG department stores (Hyundai). The prices at those stores are inflated beyond reasonable levels and so it is good for them to suffer a bit. Bring the price down and the public will shop there. It's simple economics. You can't charge 249,000 won for a coat which costs $60 bucks in America and everywhere else. People are finally starting to smarten up it seems and taking their hard earned won elsewhere.

[JustinC]

In the UK we always get these stories in the run-up to Christmas. Every year the high street is doing really badly, and it'll have a 'knock on' effect in the general economy.

Every year, since I can remember. I think it's bullshit.

[saram_]

No surprise here.
Korean people are a lot more careful with their money nowadays.
So many people have big debts and or are just saving their income.
Add in high inflation and relative income stagnation (it's not ESL teachers)
and the picture becomes clearer.

Also, the clothes people are buying are lasting longer. For example if someone goes out and buys a winter jacket.. They will much more likely keep it for a few years or more - rather than just going out every few months or year to buy a new jacket.
Of course the really rich wont be doing this - but the huge middle class will.

Stores at dept stores have been struggling for a long time now.
The staff and management there have stress beyond belief due to the continuing poor sales figures.
Recently a major clothes retailer here ( codes combine) stopped paying all its staff including management due to lack of funds. Had to pay later.
All is not well in the retailing sector..

[Swampfox10mm]

Well, the gov't forces them to close more often... every-other weekend, etc.... of course their sales will be lower. People favor buying online more than ever. And yes, department stores are insanely overpriced.

I think that to deal with exploding food costs, people are just being more frugal with where they buy stuff from.

[cdninkorea]

[NohopeSeriously]

At least artificially driving down the national economy is a very good way to harm a handful of problematic Korean mega-corporations like Samsung or Hyundai.

Weaker South Korean economy = financial stability in Asia

[orosee]

[newb]

[nautilus]

[orosee]

Oh well, that would explain the changes of the past 2 years in Itaewon.

[No_hite_pls]